Puravankara shares zoom 7% as arm bags Malabar Hill redevelopment project

Puravankara share price: Real estate player Puravankara shares were in demand on Tuesday, September 2, 2025, with the scrip rallying up to 6.53 per cent, to an intraday high of ₹305 per share. 

 

At 10:45 AM, Puravankara share was trading 2.08 per cent higher at ₹292.25. In comparison, BSE Sensex was trading 0.42 per cent higher at 80,704.82 levels.  READ STOCK MARKET LATEST UPDATES LIVE

What is driving the rally in Puravankara shares?

 

The sharp uptick in Puravankara's stock came after the company announced a major redevelopment win in Mumbai’s ultra-premium Malabar Hill locality, via its wholly owned subsidiary, Purva Blue Agate Pvt Ltd.

 

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The 1.43-acre site offers a development potential of 0.7 million square feet and is expected to generate revenue worth ₹2,700 crore. It aims to provide luxurious new homes for current residents while creating major inventory for sale in the open market.

 

“We are delighted to make our foray into Malabar Hill, one of Mumbai’s most prestigious addresses. This redevelopment project reflects our commitment to creating world-class homes while contributing to the evolving urban fabric of India’s financial capital. With its location, scale, and luxury positioning, this project is in perfect alignment with our strategy of expanding into key strategic markets across the city,” said Ashish Puravankara, managing director, Puravankara Limited.

 

The announcement follows closely on the heels of the company’s July 2025 milestone, where it was chosen as the preferred developer for the redevelopment of eight residential societies in Chembur. That project encompasses over 1.2 million square feet of development potential, with an estimated Gross Development Value (GDV) of ₹2,100 crore.  ALSO READ | Inox Wind shares rise 3% after management raises Ebitda margin guidance 

“The addition of Malabar Hill further strengthens our Mumbai portfolio and underscores our growing role in the city’s redevelopment story. This is our second major redevelopment in South Mumbai after the Miami Apartments at Breach Candy. With a sharp focus on design excellence, transparency, and timely delivery, we continue to be the trusted partner for societies embarking on redevelopment. With this acquisition, our redevelopment portfolio in Mumbai now stands at 4.25 million square feet, with a potential GDV of Rs 10,500 crore,” said Rajat Rastogi, CEO of west & commercial assets, Puravankara Limited.

 

Over the past two years, Puravankara has steadily expanded its redevelopment portfolio with notable projects in Breach Candy, Pali Hill, and Lokhandwala. The latest addition at Malabar Hill further cements its position as a major player in Mumbai’s rapidly evolving redevelopment ecosystem.